This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: According to the U.S. Supreme Court's 1920 ruling on U.S. Steel, a. all monopolies are illegal b. ... (Read 60 times)

Anajune7

  • Hero Member
  • *****
  • Posts: 574
on: Jun 30, 2018
According to the U.S. Supreme Court's 1920 ruling on U.S. Steel,
 a. all monopolies are illegal
  b. all oligopolies violate the Sherman Antitrust Act
  c. large firms cannot be found to be in violation of the Sherman Antitrust Act
  d. mere size is no offense
  e. possession of market power is sufficient for a firm to be found in violation of the Sherman Antitrust Act

Question 2

Suppose that a long-run adjustment in a perfectly competitive industry results in decreased industry output but leaves price unchanged. Which of the following must be true?
 a. The market demand curve did not shift
  b. The market demand curve shifted left; the market supply curve shifted right
  c. The market supply curve shifted left; the market demand curve shifted right
  d. Both market supply and demand increased, but supply increased more than demand
  e. The industry is a constant-cost industry


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

LVPMS

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

E


Anajune7

  • Member
  • Posts: 574
Reply 2 on: Jun 30, 2018
Excellent

fatboyy09

  • Member
  • Posts: 358
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Blood is approximately twice as thick as water because of the cells and other components found in it.

Did you know?

According to the American College of Allergy, Asthma & Immunology, more than 50 million Americans have some kind of food allergy. Food allergies affect between 4 and 6% of children, and 4% of adults, according to the CDC. The most common food allergies include shellfish, peanuts, walnuts, fish, eggs, milk, and soy.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

A woman in a net on a Congo shore. Although the importation of slaves was illegal after 1807, histor A woman in a net on a Congo shore. Although the importation of slaves was illegal after 1807, histor
Firms Incorporated into U.S. Steel Firms Incorporated into U.S. Steel
Dismantling the Ottoman Empire, 1919–1920 Dismantling the Ottoman Empire, 1919–1920
Population Losses in the South, 1920–1930 Population Losses in the South, 1920–1930
Many exhaust manifolds are constructed of pressed steel and are free flowing to improve engine ... Many exhaust manifolds are constructed of pressed steel and are free flowing to improve engine ...
Composition of the supreme court, as of November 2020 Composition of the supreme court, as of November 2020
Video: Premenstrual Syndrome

For a complete list of videos, visit our video library